II 

118TH CONGRESS 

2D SESSION S. 5301 

To amend title 38, United States Code, to prohibit the consideration of 

childcare expenses in the calculation of debt-to-income ratios for Department of Veterans Affairs housing loans, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

NOVEMBER 12, 2024 

Mr. OSSOFF (for himself and Mr. RUBIO) introduced the following bill; which 

was read twice and referred to the Committee on Veterans’ Affairs 

A BILL 

To amend title 38, United States Code, to prohibit the consideration of childcare expenses in the calculation of 

debt-to-income ratios for Department of Veterans Affairs 

housing loans, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Veterans Home Loan 

5 Fairness Act of 2024’’. 

6 SEC. 2. FINDINGS AND PURPOSE. 

7 (a) FINDINGS.—Congress finds the following: 


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1 (1) Veterans and their families often face 

2 unique financial challenges, including the cost of 

3 childcare. 

4 (2) The consideration of childcare expenses in 

5 the calculation of debt-to-income ratios can dis6 proportionately affect the ability of veterans to qual7 ify for home loans. 

8 (3) Ensuring equitable access to home loans is 

9 critical to supporting veterans and their families. 

10 (b) PURPOSE.—The purpose of this Act is to prohibit 

11 the consideration of childcare expenses in the calculation 

12 of debt-to-income ratios for Department of Veterans Af13 fairs housing loans to promote fair access to home owner14 ship for veterans. 

15 SEC. 3. PROHIBITION ON CONSIDERATION OF CHILDCARE 

16 EXPENSES IN DEBT-TO-INCOME RATIO CAL17 CULATIONS. 

18 (a) IN GENERAL.—Chapter 37 of title 38, United 

19 States Code, is amended by inserting after section 3720 

20 the following new section: 

21 ‘‘§ 3720B. Prohibition on consideration of childcare 

22 expenses in debt-to-income ratio calcula23 tions 

24 ‘‘(a) IN GENERAL.—In determining the eligibility of 

25 a veteran for a housing loan guaranteed, insured, or made 


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1 under this chapter, the Secretary shall ensure that 

2 childcare expenses are not considered in the calculation 

3 of the veteran’s debt-to-income ratio. 

4 ‘‘(b) DEFINITIONS.—In this section: 

5 ‘‘(1) CHILDCARE EXPENSES.—The term 

6 ‘childcare expenses’ means costs incurred for the 

7 care of a child or minor dependent of the veteran 

8 concerned. 

9 ‘‘(2) DEBT-TO-INCOME RATIO.—The term ‘debt10 to-income ratio’ means the ratio of a veteran’s total 

11 monthly debt payments to such veteran’s gross 

12 monthly income. 

13 ‘‘(c) REGULATIONS.—The Secretary shall prescribe 

14 such regulations as are necessary to implement the re15 quirements of this section.’’. 

16 (b) CLERICAL AMENDMENT.—The table of sections 

17 at the beginning of chapter 37 of such title is amended 

18 by inserting after the item relating to section 3720 the 

19 following new item: 

‘‘3720B. Prohibition on consideration of childcare expenses in debt-to-income 

calculations.’’. 

20 SEC. 4. EFFECTIVE DATE. 

21 This Act and the amendments made by this Act shall 

22 take effect 90 days after the date of the enactment of this 

23 Act. 

Æ 


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